U.S. Public Plan Trims Risk Premia Allocation, Replaces AQR

MainePERS has cut its allocation to alternative risk premia and hedge fund managers in favor of upping its investment in private credit funds. The USD16.5 billion state plan also ended its investment in the AQR Liquid Enhanced Alternative Risk Premia fund, replacing the allocation to AQR’s ARP fund with a smaller investment in HBK’s multi-strategy